Editing SAS Group (section)

== History of SAS Group ==
=== Predecessors and unification ===
The SAS Group has its origins in 1918 with the founding of AB Aerotransport (ABA), the [[Sweden|Swedish]] parent company of SAS. In 1920, Det Danske Luftfartselskab A/S (DDL), the Danish parent company, was established. DDL was listed on the [[Copenhagen Stock Exchange]] in 1924. In 1927, Det Norske Luftfartselskap A/S (DNL), the [[Norway|Norwegian]] parent company, was founded.

In 1946, SAS was formed from Det Danske Luftfartselskab A/S (DDL), Det Norske Luftfartselskap A/S (DNL), and Svensk Interkontinental Lufttrafik AB (SILA). The first intercontinental flight was from [[Stockholm]] to [[New York City|New York]]. In 1951, DDL, DNL, and ABA formed the present SAS Consortium.
=== Early years ===
In 1954, SAS became the first airline to fly the [[Copenhagen]] - [[Los Angeles]] polar route in regular scheduled service. In 1957, SAS was the first airline to offer "round the world service over the [[North Pole]]" from [[Copenhagen]] to [[Tokyo]] via [[Anchorage, Alaska|Anchorage]]. The airline entered the jet age in 1959 with the introduction of the [[Sud Aviation Caravelle|Caravelle]] aircraft. In 1960, SAS opened its first hotel, the SAS Royal Hotel Copenhagen, and helped establish [[Thai Airways International]], taking a 30% share in the joint venture. In 1965, SAS was the first airline to introduce an electronic reservation system.

In 1967, DNL was listed on the [[Oslo Stock Exchange]]. In 1971, SAS put its first [[Boeing 747]] jumbo jet into service. In 1977, SAS sold its remaining stakes in Thai Airways. In 1980, SAS opened its first hotel outside of [[Scandinavia]], the SAS [[Kuwait]] Hotel. SILA was listed on the [[Stockholm Stock Exchange]]. In 1981, SAS EuroClass was introduced on all [[Europe]]an routes. The following year, SAS was named the most punctual [[airline]] in [[Europe]] for the first time. In 1984, SAS received the Air Transport World's distinction "Airline of the Year" for 1983.
=== Expansion and refocusing ===
In 1986, [[Spanair]] was founded by SAS Group. In 1987, SAS cofounded the [[Amadeus CRS|Amadeus]] Computerised Reservation System (also known as [[Global Distribution System|GDS]]). In 1989, SAS International Hotels owned 40% of Intercontinental Hotels Group, a stake that was sold in 1992.

In 1994, SAS began to refocus on airline operations in the SAS Group, selling a number of subsidiaries along with the [[franchising|franchise]] of [[Diners Club]] Nordic. The company celebrated its 50th anniversary on 1 August 1996, and the SAS parent company changed its name to SAS Danmark A/S, SAS Norge ASA, and SAS Sverige AB.

In 1997, SAS became one of the founding members of [[Star Alliance]]. In 1998, [[Air Botnia]] ([[Blue1]]) became a wholly owned subsidiary of the SAS Group. In 1999, the SAS Group became a majority owner of [[Widerøe]].
=== 21st century ===
In 2001, a single SAS share was established, as SAS AB. On July 6, SAS was listed on the stock exchanges in Stockholm, Copenhagen, and Oslo. In December, Braathens was acquired by the SAS Group. In 2002, Rezidor SAS Hospitality signed a master franchise agreement with Carlson Hotels Worldwide; the agreement came to an end in 2009. In 2003, SAS acquired 49% of the shares in [[Estonian Air]].

In 2004, Scandinavian Airlines Sverige, SAS Braathens, and Scandinavian Airlines Danmark were incorporated. In 2006, SAS sold its remaining shares in the [[Rezidor Hotel Group]] chain. In 2007, CEO and President Mats Jansson was inaugurated; SAS sold the [[SAS Flight Academy]].

In 2010, CEO Jansson departed his position and was replaced by John S. Dueholm on an interim basis. Rickard Gustafson became the new permanent CEO in 2011. In January 2012, Spanair collapsed, leading to write-downs of 1.7 billion kronor by SAS. In 2013, SAS sold 80% of the shares in [[Widerøe]].

In 2014, SAS sold the cleaning part of SAS Ground Handling to Sodexo. In 2015, SAS sold SAS Ground Handling in 14 airports in Norway to Widerøe Ground Handling and sold Blue1 to CityJet. In November 2015, Estonian Air collapsed, resulting in SAS losing 2.5% of the shares. In 2016, SAS sold its remaining 20% stake in Widerøe.

Norway's government sold its final 9.88% stake in SAS Group in June 2018.

=== Impact of COVID-19 and restructuring ===
In 2020, SAS halted most of its traffic from March 16 due to the [[COVID-19 pandemic]].<ref>{{Cite news|url=https://www.reuters.com/article/us-health-coronavirus-sas/sas-to-halt-most-flights-temporarily-lay-off-90-of-staff-idUSKBN2120YZ|title = SAS to halt most flights, temporarily lay off 90% of staff|newspaper = Reuters|date = 15 March 2020|last1 = Ahlander|first1 = Stine Jacobsen}}</ref> This decision led to the temporary layoff of 90% of the group's staff as travel demand plummeted globally.<ref>{{Cite web |last=Smith |first=Gordon |date=2024-08-28 |title=Air France-KLM Now Owns 20% of SAS: 3 Big Changes to Watch |url=https://skift.com/2024/08/28/air-france-klm-now-owns-20-percent-sas-3-big-changes/ |access-date=2024-09-02 |website=Skift |language=en-US}}</ref> In July 2022, SAS filed for [[Chapter 11 bankruptcy protection]] in the United States as part of a restructuring effort to address its financial difficulties.<ref>{{Cite news|url=https://www.reuters.com/business/aerospace-defense/sas-stock-dives-95-restructuring-announced-2023-10-04/|title=SAS stock dives 95% as restructuring announced|newspaper=Reuters|date=4 October 2023|last1=Rasmussen|first1=Louise}}</ref>

As part of the restructuring plan, SAS secured new investments and underwent significant ownership changes. US investment firm Castlelake acquired a 32% stake in the reorganised airline, while [[Air France–KLM|Air France-KLM]] obtained around 20%. The Danish state obtained a 26% share, and Danish investor Lind Invest acquired 8.6%. The remaining equity was expected to be distributed among SAS's creditors.<ref>{{Cite news|url=https://www.reuters.com/business/aerospace-defense/sas-stock-dives-95-restructuring-announced-2023-10-04/|title=SAS stock dives 95% as restructuring announced|newspaper=Reuters|date=4 October 2023|last1=Rasmussen|first1=Louise}}</ref>

The restructuring also involved delisting SAS from the [[Nasdaq Stockholm|Stockholm]], [[Nasdaq Copenhagen|Copenhagen]], and [[Oslo Stock Exchange|Oslo]] stock exchanges, resulting in the existing shares' value being reduced to zero. This decision affected over 250,000 shareholders, many of whom were [[retail investors]], and led to a 95% drop in the stock's value.<ref>{{Cite news|url=https://www.reuters.com/business/aerospace-defense/sas-stock-dives-95-restructuring-announced-2023-10-04/|title=SAS stock dives 95% as restructuring announced|newspaper=Reuters|date=4 October 2023|last1=Rasmussen|first1=Louise}}</ref>

The restructuring marked the end of [[Wallenberg family|Wallenberg family's]] involvement in SAS. A prominent Swedish business dynasty, the Wallenbergs had had involvement in SAS since 1946, and through their investment company, [[FAM AB]] had been a major stakeholder in SAS. Their stake was effectively wiped out during the restructuring process.<ref>{{Cite news|url=https://www.reuters.com/business/aerospace-defense/sas-stock-dives-95-restructuring-announced-2023-10-04/|title=SAS stock dives 95% as restructuring announced|newspaper=Reuters|date=4 October 2023|last1=Rasmussen|first1=Louise}}</ref>

[[Air France–KLM|Air France-KLM]], which became a significant shareholder, indicated plans to integrate SAS flights into its existing network at its hubs in Amsterdam and Paris. This was part of Air France-KLM's broader goal to expand its operations in the [[Nordic countries|Nordic region]].<ref>{{Cite news|url=https://www.reuters.com/business/aerospace-defense/sas-stock-dives-95-restructuring-announced-2023-10-04/|title=SAS stock dives 95% as restructuring announced|newspaper=Reuters|date=4 October 2023|last1=Rasmussen|first1=Louise}}</ref> A condition of the deal is that Air France-KLM could also expand its stake in SAS after at least two years to become a [[Controlling interest|controlling shareholder.]]<ref>{{Cite web |title=Air France-KLM snatches up 20 percent of SAS Airline {{!}} NL Times |url=https://nltimes.nl/2024/08/31/air-france-klm-snatches-20-percent-sas-airline |access-date=2024-09-02 |website=nltimes.nl |date=31 August 2024 |language=en}}</ref>